2006 Alabama Code - Section 10-4-21 — Powers of corporation.

Corporations not of a business character created under this article or created by special act of the Legislature heretofore may acquire, hold, administer, distribute or dispose of real and personal property, may take, receive and acquire property by gift, devise, or bequest and hold, own, administer, use, distribute and dispose of such property for the advancement, promotion, extension or maintenance of such causes and objects as may be prescribed by the constitution and bylaws of such corporation in conformity with all lawful conditions imposed by the donor and may exercise such other powers as are incident to private corporations. All such powers may be exercised by such corporation in its own right or as trustee or as personal representative.

(Code 1852, §1262; Code 1862, §1526; Code 1876, §1996; Code 1886, §1696; Code 1896, §1304; Code 1907, §3615; Acts 1911, No. 74, p. 49; Code 1923, §7169; Code 1940, T. 10, §126; Acts 1955, No. 393, p. 929.)